Greenland

Frank

Gold

While Bitcoin (BTC) maximalists may think of the leading cryptocurrency as the "digital <a href="https://www.thestreet.com/crypto/markets/analyst-eyes-calm-before-storm-as-gold-and-silver-hit-record-highs" rel="noopener noreferrer nofollow">gold</a>,"&nbsp;billionaire&nbsp;Frank Giustra thinks the Greenland episode has shattered any such myth.Gold is a safe haven and Bitcoin is a risk-on asset, he asserted.<a href="https://www.thestreet.com/crypto/policy/analyst-offers-fix-to-trumps-5-7b-greenland-gambit" rel="noopener noreferrer nofollow">Related: Analyst offers fix to Trump’s $5.7B Greenland gambit</a><h2 id="giustra-says-bitcoin-not-comparable-to-gold">Giustra says Bitcoin not comparable to gold&nbsp;</h2>Giustra is a&nbsp;Canadian billionaire businessman, mining financier, and philanthropist who is well-known within the crypto circles for his&nbsp;strong criticism of the Bitcoin accumulation model of the&nbsp;<a href="https://www.thestreet.com/crypto/markets/michael-saylors-microstrategy-unrealized-loss-worth-billions" rel="noopener noreferrer nofollow">Michael Saylor-led Strategy</a> (Nasdaq: MSTR).<figure><img src="https://www.thestreet.com/.image/c_fit%2Ch_800%2Cw_1200/MjIwNjk2OTIwODExNjQ0Nzgx/gettyimages-1676887095.jpg" height="800" width="1200"><figcaption> Frank Giustra, president and chief executive officer of Fiore Capital Corp., speaks during the Gold Forum Americas in Colorado Springs, Colorado, US, on Monday, Sept. 18, 2023. </figcaption></figure>Recently, he went to X to again&nbsp;<a href="https://x.com/Frank_Giustra/status/2012813497940287553" rel="noopener noreferrer nofollow">criticize</a>&nbsp;the leading Bitcoin treasury for its "promotional style" based on "greed and FOMO" but clarified that he isn't against BTC itself.A user <a href="https://x.com/l11c45m4re5/status/2012924653560369264" rel="noopener noreferrer nofollow">said</a> that gold and Bitcoin complement each other and are store-of-value assets he could live with.In response,&nbsp;Giustra <a href="https://x.com/Frank_Giustra/status/2013141706498060460" rel="noopener noreferrer nofollow">said</a> that Bitcoin isn't gold and the uncertainty around Greenland and numerous previous examples have demonstrated it.<h3 id="more-news">More News:</h3><ul><li><a href="https://www.thestreet.com/crypto/markets/analyst-xrp-behaving-like-gold" rel="noopener noreferrer nofollow">Analyst says XRP is behaving like gold</a></li><li><a href="https://www.thestreet.com/crypto/markets/analyst-eyes-calm-before-storm-as-gold-and-silver-hit-record-highs" rel="noopener noreferrer nofollow">Analyst eyes 'calm before storm' as gold and silver hit record highs</a></li><li><a href="https://www.thestreet.com/crypto/markets/michael-saylors-microstrategy-unrealized-loss-worth-billions" rel="noopener noreferrer nofollow">Michael Saylor's MicroStrategy sits on unrealized loss worth billions</a></li></ul><h2 id="giustra-compares-gold-and-bitcoin-prices-during-greenland-uncertainty">Giustra compares gold and Bitcoin prices during Greenland 'uncertainty'</h2>While the U.S. has eyed Greenland since the 19th century, President <a href="https://www.thestreet.com/crypto/markets/cathie-wood-predicts-trump-wont-be-a-lame-duck-in-2026" rel="noopener noreferrer nofollow">Donald Trump</a>&nbsp;has been amping up the rhetoric after the action in Venezuela.Trump argues that controlling the island is the key to its national security, given the presence of Russian and Chinese ships around it. In fact, he has <a href="https://www.thestreet.com/crypto/markets/trump-targets-european-allies-with-fresh-tariff-threats-again" rel="noopener noreferrer nofollow">threatened</a> a tariff war against European countries over the Greenland episode.<figure><figcaption> People bear Greenlandic flags and a banner that reads: "Yankee Go Home" as they march to protest against U.S. President Donald Trump and his announced intent to acquire Greenland on January 17, 2026 in Nuuk, Greenland. </figcaption></figure>As the controversy rages, gold's price has risen more than 7%, but Bitcoin's price has dropped nearly 17% over the last three months.In fact, gold's price hit a new all-time high (ATH) of $4,689.39 per oz on Jan. 19. But BTC was exchanging hands at&nbsp;$93,276.79 at the time of writing, still 25% lower than the ATH of $126,080 it reached in early October last year.Giustra argued that gold's uptick and BTC's downtick amid&nbsp;the "Greenland uncertainty" have shown that the former is a safe asset and the latter is a&nbsp;risk-on asset.<blockquote>"The facts on this are clear &amp; indisputable."</blockquote>When the user <a href="https://x.com/l11c45m4re5/status/2013180428346167706" rel="noopener noreferrer nofollow">quizzed</a> what one can do if gold gets&nbsp;confiscated,&nbsp;Giustra responded that Bitcoin is much&nbsp;easier to confiscate than gold.He gave the example of the much-touted&nbsp;government Bitcoin reserve, which is made up of seized coins.<a href="https://www.thestreet.com/crypto/policy/white-house-advisor-reveals-surprising-hurdle-to-bitcoin-reserve" rel="noopener noreferrer nofollow">As per</a>&nbsp;U.S.&nbsp;President Donald Trump's executive order, the&nbsp;strategic Bitcoin reserve&nbsp;will consist of BTC forfeited by the U.S. federal agencies as part of asset seizures.Bitcoin is also easier to trace than gold, and&nbsp;desperate&nbsp;governments choose the path of least resistance,&nbsp;Giustra&nbsp;added.While Bitcoin is a decentralized cryptocurrency and gives the impression of user anonymity, there are several tools that track the flow of crypto funds via exchanges, wallets, etc.<a href="https://www.thestreet.com/crypto/policy/white-house-advisor-reveals-surprising-hurdle-to-bitcoin-reserve" rel="noopener noreferrer nofollow">Related: White House advisor reveals surprising hurdle to Bitcoin reserve</a>

Billionaire warns Greenland episode shatters Bitcoin myth

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